Cambodia's Macroeconomic Outlook Appears Positive For 2024-2027
Cambodia's macroeconomic performance is showing signs of recovery, with the country's GDP growth forecast to maintain around 6 per cent in 2024 and reach 6.5 per cent in the medium term from 2025-2027, according to new government data.
Statistics from the Ministry of Economy and Finance (MEF) highlighted Cambodia's overall economic performance for 2023-2025. In 2025 respectively, Cambodia’s real domestic product growth is projected to grow 6.3 per cent, Gross domestic product (GDP) of USD $51.4 billion, and GDP per capita at USD $2,924.
The MEF's General Department of Policy identified several key growth drivers in the Cambodian economy for the 2025-2027 period. These include the manufacturing sector (including garments and non-garments), the tourism and service-related sectors, as well as the agriculture sector.
While the non-garment manufacturing industry is maintaining good momentum supported by external demand and domestic supply, the garment sector is expected to rebound in 2024 and the medium-term as global demand recovers.
Foreign direct investment (FDI) inflows, particularly in manufacturing, are also helping to facilitate Cambodia's economic diversification. Exports are anticipated to recover strongly, buoyed by the rebound in the garment sector.
On the inflation front, consumer price index inflation is projected to pick up to 2.7 per cent in 2024 but is predicted to normalise down to 2.5 per cent from 2025-2027 as global commodity prices stabilise.
The accommodation and food services sector is continuing to recover rapidly as travel barriers are lifted and confidence returns. Meanwhile, the agriculture sector is expected to sustain its growth momentum, primarily driven by the crops sub-sector, while the fisheries and livestock and poultry segments grow at a slower pace.